The “National Korean Pop Team” is the name given to the seven members of the boy band BTS. You can list the achievements of the group as much as you like, but the list will still be incomplete – its success is so huge. Attention to BTS continues unabated: in 2018, the group occupied the first lines of the Billboard 200 charts; BTS’s Twitter page became the first Korean account on the platform to reach over 10 million followers; the name of the group is consistently one of the most frequent queries in the Google search engine, etc. After the release of the next album in August 2018, the group’s world tour called Love Yourself took place: BTS concerts were held in the countries of America, Europe and Asia. That is, we are not talking about short-term success of local significance, but, on the contrary, about long-term and global success.
Strict, simple and recognizable BTS logo, although it is depicted in several colors, but black and white remains the main one.
The indirect economic impact of BTS’ activities is estimated to be in excess of 1 trillion won, and the market value of related companies has grown by hundreds of billions. Along with the increase in the shares of companies directly related to BTS, the shares of other Korean entertainment companies also rose; Big Hit Entertainment itself is valued at approximately 2 trillion won. In other words, the group’s activities have produced an effect in the Korean show industry that is comparable in power to the tectonic movement of the earth’s crust.
However, in order to adequately assess BTS, one must not so much operate with stunning facts and figures as understand the processes that contributed to the achievement of grandiose results. Because behind the triumph of BTS are socio-cultural trends, changes in the business environment, formulas for the success of modern corporations. Although the group was created by a small agency, it has surpassed rivals nurtured by powerful companies in the Korean entertainment industry and achieved worldwide recognition. Anyone in today’s hyper-connected society looking to run their own business and dream of global success should take a look at the business tools that BTS has already used to make that dream come true.
You can often hear the opinion that the secret of BTS’s success was a sincere desire to be creative, which was lost in the Korean show business as a whole. In addition, they often talk about the hard work of stars hidden from prying eyes.
The members of the group were known for their determination and diligence even before their debut, and their sincerity and dedication still remain the same. However, what are the chances of achieving great success only with the help of sincerity and hard work? Of course, the members of BTS put in a huge amount of effort – it’s impossible to deny. Only in this they were no different from hundreds of other pupils who had endured severe training for years.
The presence of social messages in their songs and sympathy for subordinate groups of society are also cited as important success factors for BTS. But there have been countless songs on the Korean stage with lyrics that sounded like a desire for social justice and dealt with thorny issues like school violence. Long before BTS was born, other artists sang about how hard it is to be young and resonated with fans. However, few have been truly successful. Among the most popular are Seo Taeji and the boys, as well as H.O.T. from the first generation of idols – after them, the listener’s interest in social topics only went into decline. So BTS had something else.
Of course, passionate dedication and enthusiasm are very important on the path to success, and it is not so easy to maintain them. Still, one should not jump to the conclusion that this is the secret of BTS’s success – such a conclusion is extremely superficial.
There are a lot of startups being launched these days, and entrepreneurs often talk about the difficulty of a small business surviving in the dominance of huge corporations. The example of BTS will be inspiring for them, because in this case, a humble beginning not only led to a victory over powerful domestic competitors, but also continued with a strong entry into the international market.
A future entrepreneur can dream as much as he wants about how his dreams come true, it is worth starting a truly interesting business, working at full capacity and being sensitive to the desires of the consumer. The harsh reality quickly makes its own adjustments, and there are hardly one or two companies of such dreamers out of a hundred on the market. Does this mean that those who failed did not put all their efforts into their own enterprise or worked without enthusiasm? Of course no. It takes a lot of money and a lot of time to make a business work. No one will dare to start their own business if they do not believe in it and are not ready to make efforts. In my ten plus years in consulting, I have never seen a non-serious or lazy private entrepreneur. Everyone who, at their own peril and risk, decided to open their own business had a personal history, a personal philosophy, and an ardent desire to succeed – just like the guys from BTS.
In a capitalist society, one must be prepared for the fact that business may not bring profit. Thinking that your favorite pastime will eventually turn into a big income is far from always realistic. The guys from BTS did not achieve success because they dreamed. By trial and error, they moved forward until their efforts and certain fortunate circumstances formed a harmonious whole, which eventually led to stunning results. Once again I warn everyone who is thinking about starting a business, relying only on their own will and faith in victory. I have met too many unsuccessful entrepreneurs who were lured by the dream of indispensable recognition “sometime in the future.”
